Algorand plans ‘broad quantum resilience’ by 2027

Algorand plans ‘broad quantum resilience’ by 2027

Algorand is planning new accounts and consensus mechanisms designed to be resistant to the cryptography-breaking threat of quantum computers.

He added that the blockchain will also update its consensus mechanism from its current cryptography, which is not quantum-resistant. It will also update how accounts participating in consensus operate and is researching options, including a “hybrid mix” of classic and quantum-resistant signatures.

Industry-wide quantum preparedness

Quantum threats to cryptography are a growing concern among governments and businesses, with many companies putting plans in place before quantum computers are powerful enough to break encryption, which could happen as soon as 2030.

• France’s cybersecurity agency ANSSI said on Tuesday that it will stop certifying security products that lack quantum-resistant encryption to encourage businesses to create only quantum-safe products by 2030.
• The US National Security Agency has also required all new national security systems to use its quantum-resistant algorithms starting Jan. 1, 2027, while nonquantum-resistant systems must be phased out by the end of 2030.
• Google has set a deadline for 2029 to be ready for the event due to rapid progress in quantum computing hardware and error correction.

Blockchain and research developments

Last month, Tezos launched a prototype blockchain for payments designed to resist quantum computing attacks, and stablecoin issuer Circle released a roadmap in April for its Arc blockchain to become quantum-ready.

California Institute of Technology researchers have also theorized that a functional quantum computer may require far fewer resources than previously believed, and one could be deployed before 2030.

Related: Nearly 10% of Bitcoin supply is ‘structurally unsafe’ from quantum breakthrough: Glassnode

Magazine: Nobody knows if quantum-secure cryptography will even work